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Currently, California homeowners in high-risk areas have few insurance options. Many have turned to the California FAIR plan, a private program established by the state and designed to be a fire ...
The California FAIR Plan is an insurance program backed by the state of California that is used by property owners who cannot find private market insurance coverage. [1] [2] [3] The plans are typically more expensive and provide less coverage than commercial plans.
Find a provider: California FAIR Plan insurance can be purchased through a licensed insurance broker in the state. Homeowners can use the online broker search tool on the FAIR Plan website to find ...
Get major insurers to write policies for high-risk areas: The California Department of Insurance is looking for the top 12 home insurance companies in the state to commit to writing a minimum of ...
The average cost of homeowners insurance in the state is $1,250 per year, or about $104 per month. That's less than the national average of $1,915, according to Nerdwallet .
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
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